Rocky market could prompt oil mega-mergers as price fall forces drastic decisions February 3, 2015 After six months of falling oil prices, analysts have pointed to a possible mega-merger between the majors. Chances of a shock deal have been heightened by firms slashing their spending in the face of oil prices that are expected to remain low for at least the next six months and possibly the next three years. [...]
Putin’s disaster economy now faces a perfect storm December 16, 2014 VLADIMIR Putin is surely receiving his long-awaited comeuppance, as his country struggles to deal with a full-blown currency rout, driven by plunging oil prices. For if the US and Saudi Arabia are indeed in cahoots to drive down the price of oil to smite their Russian enemy, as I have previously posited, one must admit [...]
The UK might have an ambassador for the Arctic – but what would they actually do? February 27, 2015 There will certainly be no fancy parties with circling plates of Ferrero Rocher – just freezing ice, which occasionally melts, and plenty of polar bears waiting for a meal. The Arctic is far from being the most pleasant place in the world, but its abundance of fossil fuels has attracted interest from countries around the [...]
Is the ECB speaking too soon in saying that QE is already helping the Eurozone economy? March 19, 2015 Danae Kyriakopoulou, an economist at the Centre for Economics and Business Research, says Yes Central bankers in Frankfurt have been patting each other on the back as the euro has continued to slide. At first glance, why shouldn’t they? Their QE has sent the euro tumbling, making Eurozone exports more competitive and raising prospects for [...]
Rouble plummets against the dollar as Russian central bank makes shock cut to interest rates January 30, 2015 Russia's central bank has made a shock two percentage point cut to its benchmark rates of, lowering it to 15 per cent, which caused the rouble to plummet against the dollar, The currency slumped 1.2 per cent, sending it past the 70 per dollar mark. It's the first time it has slipped past that since December's [...]
European leaders urged to approve most severe Russian sanctions yet July 26, 2014 European leaders are being urged to approve a new set of sanctions against Russia, spanning the financial, defence and energy industries. The package being put forward represents “phase three” of the European Union's plan to hit entire sectors of Russia's economy. If approved, it will result in the most wide-ranging sanctions to have been [...]
FTSE 100 closes up despite volatile day as rouble plunges – London Report December 16, 2014 BRITAIN’S top equity index rose yesterday as a drop in UK inflation propped up the stock market in the face of market turmoil caused by Russia, while energy stocks rebounded. The blue-chip FTSE 100 index endured a volatile session, caused by a plunge in Russia’s rouble currency, before closing up by 2.4 per cent, or [...]
Russia contagion: Global tailwinds should see the world through this crisis December 17, 2014 IN A global economy, disaster can spread as easily as it strikes. The world is watching as news from Russia looks increasingly bleak, with potential implications for other regions. But as the situation continues to evolve, how could other countries be affected? Russia’s situation is troubling, but there are also plenty of forces at play [...]
Russia: Rouble descends into freefall despite central bank’s rate hike to 17 per cent December 16, 2014 The rouble descended into freefall during trading today despite the Russian central bank's drastic action which hiked interest rates from 10.5 per cent to 17 per cent late last night. After starting the day with a brief rally, the Russian currency dropped again and was down 12.2 per cent to 73 roubles per dollar at pixel [...]
Fresh sanctions expected as West blames Putin’s Russia for MH17 crash July 21, 2014 Western governments yesterday warned that a more severe round of sanctions could be imposed against the Russian government, with heads of state increasingly blaming Moscow for supplying the missile which brought down a Malaysian airlines jet last week. Foreign secretary Philip Hammond, who has held the post for less than a week, said yesterday that [...]